Fun with Comscore’s IPO Filing

Online media measurement firm ComScore has filed to go public. Its S-1 is here, and it’s useful reading.

Among other things, we learn that the firm has grown revenues from $23m to $66m since 2003, an impressive 42% compound growth, albeit on relatively small numbers. While the company lost money from 2003 to 2005, it magically made money, at least on a GAAP basis, in 2006, pulling $5.7m in earnings out of its hat. (On an operating cash flow basis, the company has been generating cash the entire period.)

Definitely must-read stuff if you’re in the ad or online analytics businesses, which makes it widely worth reading.